Necessity of First-best Policy Academy for Economy and Government


Why do the rich, excluding the Buffets of the world, then appear to be reluctant to pay their fare share taxes?

My rational inference is that many high earners have been locked up in ever losing leveraged financial hedging shenanigans which guarantee windfalls for their counter parties, the mega financial holding companies. The high incomes feed the heads I win and tails you lose shenanigans which perpetuate financial holding companies, but with a colossal destruction of capital earned by the real producers globally competitive goods, services and ideas. The financial catastrophe of 2008 is simply a symptom the deeper capital-destructive malaise of the financial system.

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